I did think about using a piece of galvanized pipe, but a 1" pipe has an outer diameter over 1 1/8" and a 3/4" pipe has an outer diameter under 1 1/8". I don't have a metal lathe to reduce the diameter down to 1 1/8" and I'm not sure if there is something similar I could use.
If any toolmakers are reading this and want to try to make me one, please speak up!
I've attached a photo of the piece of leather I cut out of with the 1" pinking iron I just sold on ebay. The teeth were close, but I needed a 1 1/8" not a 1". I luckily found a 1 1/8", but the teeth are bigger. Also in the photo is what I'm trying to make.
Thanks everyone for the responses.